Elon Musk goofed, but the Tesla CEO is unlikely to change

Share

"They're killing me", Musk said in response to a later question about reservations for the Tesla Model 3 vehicle, which has been the subject of speculation regarding its production problems.

"Excuse me. Next. Boring, bonehead questions are not cool".

Musk claims that the questions that were ignored were from short-sellers "who were trying to justify their Tesla short thesis".

The outspoken performance shocked many analysts, sparked a fall in Tesla's share price and led some to question whether Musk's behavior could risk the company's ability to raise capital.

Tesla's Elon Musk is known for having a bit more personality than your typical financial heavyweight, speaking off the cuff and generally following an idiosyncratic approach to the public billionaire life.

"True. And once they were on the call, I should have answered their questions live", Musk responded.

"First it's important to know that Tesla is the most shorted (meaning most bet against) stock on the market & has been for a while", tweeted Musk.

Trump to host S.Korean President on May 22
The White House has said the first meeting ever between sitting USA and North Korean leaders could take place in the coming weeks. South Korea's Blue House, the presidential office, said largely the exact same thing as the White House in its statement.

Musk's Twitter comments seem to have eased investors' nerves.

In its letter, Tesla said Model 3 production hit 2,270 per week at the end of April, the third straight week that it reached over 2,000.

Tesla stock did rise a bit on Friday, getting a 3.82 percent bump to $295.31 per share at the time of publishing. That's quite interesting given the company is still facing difficulties with the Model 3 production. Musk then announced that he was "going to go to YouTube" and take questions from a blogger there who had previously gotten Musk's approval to ask a question on the call via a Twitter campaign.

Moody's Investor Service downgraded Tesla's debt into junk territory back in March, warning at the time that Tesla didn't have cash to cover $3.7 billion for normal operations, capital expenses and debt that come due early next year.

Conference calls after earnings reports are released tend to be clubby affairs where analysts gently probe executives for details they can use to adjust their profit and revenue estimates up and down for coming quarters.

Tesla is expecting sales of Model S and X to pick up which will bring more cash to resolve this issue and this will help the company to achieve the target of 1,00,000 sales for the full year.

Share